Pursuance to the provisions of Regulation 5(vii) of the SEBI (Buy-Back of Securities) Regulations, 2018, please find attached the certified true copy of the resolution passed by the Board ....
GARFIBRES · price
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On the reaction day the stock moved 2.5 pts more than Nifty Microcap 250 and 1.1 pts more than its Other Textile Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Garware Technical Fibres Ltd has approved a buyback of up to 1,617,500 equity shares (1.63% of total paid-up capital) at INR 680 per share, totaling up to INR 110 crores. The buyback will be conducted via tender offer route through stock exchanges, with the record date set for May 20, 2026. Promoters and promoter group have confirmed they will not participate in the buyback. The buyback represents 9.46% of standalone and 9.35% of consolidated free reserves as of March 31, 2025. The company appointed Ambit as merchant banker and MUFG Intime as registrar for the process.
Shareholders who tender their shares will receive INR 680 per share in cash, providing an immediate return opportunity. The buyback is small (1.63% of shares) and won't significantly impact shareholding structure, though it may provide some support to the stock price near the offer price.